Traders have taken a cautious approach by moving more than 53% of liquidity into short positions on Bitcoin (BTC), trading at 95,776.31 USD. This indicates a lack of confidence in the current rally.
The Bitcoin sentiment index has declined from a high of 72 points to 60 points, reflecting greed but suggesting the potential end of the rally, alongside increasing short positions.
Recent market trends have shown negative funding rates and increased short liquidations overshadowing long positions, indicating a shift towards bearish sentiment.
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